Credit cards surge for BOC

Business | Samantha Wong Nov 15, 2017
Bank of China (Hong Kong) (2388) says its total credit card billing amount showed double-digit percentage growth over the past two months.

The lender also expects the growth to continue in the fourth quarter this year due to festive spending.

It said the number of credit cards issued was more than double compared with other banks in the market for the first nine months this year, and the billing amount was 1 percent higher than its competitors.

Bank of China expects to extend its credit card offers to its online-to-offline business, as e-commerce are becoming more popular.

BOCHK has issued one million dual currency credit cards since its launch in 2009, and launched a dual currency diamond card with China Mobile yesterday, with the target of 100,000 cards to be issued.

BOCHK has 196 branches and more than 1,000 self-service machines. It also holds shares in Nanyang Commercial Bank, Chiyu Banking Corporation and BOC Credit Card (International).

China Mobile Hong Kong Company is the wholly owned subsidiary of China Mobile (0941), which was incorporated in January 1997.

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December 2018